Kinross Gold (KGC) reported earnings yesterday and beat estimates, opening this morning above the $4.00 level. The market weakness early in the day dragged the stock lower following the PPI report, but it has now recovered as it attempts to post an undercut & rally (U&R) long entry signal along the 3.93 low of late last November. As we write it is trading one penny above that prior low and we will see whether this holds up by the close. In any case, any position taken here would simply use the 3.93 low as a very tight selling guide.
Undercut & Rally - Kinross Gold (KGC) 2/16/23
|Published:||16 Feb 2023 15:08 ET|
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